1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sweet [91]
4 years ago
7

Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The curren

t assets consisted of $62,000 Cash; $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio is_____________.
Business
1 answer:
Dovator [93]4 years ago
5 0

Answer:

Acid-test (quick) ratio=0.76642

Explanation:

Given Data:

Current Assets=$193,000

Current Liabilities=$137,000

Cash=$62,000

Accounts receivable=$43,000

Inventory=$88,000

Required:

Acid-test (quick) ratio=?

Solution:

Quick Assets=Cash+Accounts receivable

Quick Assets=$62,000+$43,000

Quick Assets=$105,000

Acid-test (quick) ratio=Quick Assets/Current Liabilities

Acid-test (quick) ratio=$105,000/$137,000

Acid-test (quick) ratio=0.76642

You might be interested in
What song lyric from the Rolling Stones expresses a powerful economic idea?
Kazeer [188]

Answer:

The correct answer is: "You can't always get what you want".

Explanation:

British well-known rock band "The Rolling Stones" was formed in 1962. Along their hits, we can identify "Paint it black", "Give me shelter", "Wild Horses", "Waiting on a friend" or "You can't always get what you want" (released in 1996) which is a song encouraging people to fight for what they want to achieve even if not all the time what is desired can be obtained.

3 0
4 years ago
The first step in the rational decision-making model is to:
DerKrebs [107]
I would say define the situation. 

8 0
4 years ago
In 1 or 2 sentences, describe why compound interest earns more money than simple interest.
Tom [10]
<span>Simple interest is set in place by an interest rate that is multiplied by the total amount of money you have in place. While compound interest is essentially interest on top of your simple interest. It accumulates over time making you more money.</span>
5 0
3 years ago
During the current​ year, Karen sells her entire interest in Central Corporation common stock for $ 22 comma 000. She is the sol
statuscvo [17]

<u>Solution and Explanation:</u>

Amount realized   22,000 Minus: Basis 89,000 Loss recognized 67000

<u>answer a </u>) Since Karen is single she can guarantee this lose as a common misfortune to a limit of $50,000. Karen won't have the option to guarantee the whole $67,000 that she lost she can just guarantee $50,000.  

<u>answer b) </u>Since Karen is recording a joint government form she can guarantee a lose of upto $100,000. Karen will have the option to guarantee the whole loss of $67,000.  

<u>answer c )</u> With the stock being bought from another investor as opposed to the sorting out enterprise she can guarantee the whole loss of $67,000 as a captial gain misfortune.  

<u>answer d )</u> B. By selling a segment of the stock in one year and the staying stock in one more year Karen could change over the whole misfortune on the deal to a normal misfortune.

7 0
3 years ago
How do monopolistic competitors try to make their products stand out?
sergey [27]

<u>Answer:</u>

<em>They use non-price competition such as advertising </em>

<em></em>

<u>Explanation:</u>

Monopolistic competition portrays an industry where numerous organizations offer items or administrations that are comparable, however not immaculate substitutes. Hindrances to section and exit in a monopolistic focused sector are low, and the choices of anybody firm don't legitimately influence those of its rivals. Monopolistic competition is firmly identified with the business technique of brand separation.

Monopolistic competition is a type of rivalry that portrays various ventures that are well-known to purchasers in their everyday lives. Models incorporate eateries, hair salons, attire, and buyer hardware.  

7 0
4 years ago
Other questions:
  • "The owner of a small restaurant that sells take-out fried chicken and biscuits pays $2,500 in rent each month, $500 in utilitie
    9·1 answer
  • What does an income statement show about a bank over a period of time?
    12·2 answers
  • Chinchilla, Inc. uses activity-based costing. The company produces X and Y. Information relating to the two products is as follo
    12·1 answer
  • An increase in the demand for a good is represented by:
    8·1 answer
  • Under the aging of a company's accounts receivable, the uncollectible accounts are estimated to be $26,000. If the unadjusted ba
    9·1 answer
  • Which type of tax is not represented on the W-2
    5·1 answer
  • Jane and Walt form Yellow Corporation. Jane transfers equipment worth $950,000 (basis of $200,000) and cash of $50,000 to Yellow
    6·1 answer
  • Presented below is information related to Concord Corporation: Common Stock, $1 par $3410000 Paid-in Capital in Excess of Par―Co
    10·1 answer
  • Which of these conditions is most likely to exist when there is a general slowdown of the economy? A. Less inflation B. More spe
    14·2 answers
  • All of the following are examples of healthful breakfast except
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!